New Level 1 (Part 1) Formula Summary Sheet available

Discussion in 'Announcements' started by David Harper CFA FRM, Oct 31, 2011.

  1. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Hi there!

    Suzanne just uploaded a new 2011 L1 Formula Summary sheet. This is my 87-page extraction (from Topics 1 to 4 = L1) of the 2011 FRM contents but with an exclusive focus on the key FORMULAS.

    This formula sheet is not exhaustive/comprehensive with respect to all of the "calculate" AIMs. Rather, I select (in my judgement) the most important from a practical exam perspective, for the sole purpose of giving the L1 candidates a "quantitative boost" in the final three weeks
    (please do not consider this as a substitute for regular preparation, it is too truncated!)

    For paid members, here it is:

    Thanks, David
    • Like Like x 2
  2. New Member

    Hi David,

    I just want to know if this L1 Formula Sheet can be purchased as a stand-alone as opposed to pay for all of the FRM Bionic Turtle Books and buying the package?

  3. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Hi Shariq, Sorry we don't have such an a la carte offer this year (to be candid, I don't really want to offer as a standalone with the support of the rest: it's not a total solution, and i don't want to give the impression that it's anything more than a bonus/boost supplement to our regular program), thanks, David
  4. New Member

    Just had a look at the 9 page formula sheet that Suzanne posted.
    I do not have Finance or Qualitative background.
    But I must say that 9 page formula sheet was very well structured.
    So if and when I go ahead with FRM Part 1 exam, I am sure it will make good sense to me.
  5. Suzanne Evans

    Suzanne Evans Administrator

    I just wanted to make sure that you understood the 9 pages of the formula sheet is only a sample. The full formula sheet is a total of 87 pages which covers all (4) topics.
  6. ChadWOB

    ChadWOB New Member

    Is there a formula sheet for 2012 level 2 available somehwere?
  7. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Hi Chad, not yet, we'll do that after the videos. Thanks, David
  8. ChadWOB

    ChadWOB New Member

    David - thank you for such a quick response. One other question, and this may be the incorrect place for it, but it seems that GARP was late in getting the AIMs out this year? Is it typical for them to wait until January to put out AIMs for an exam 4 months later? Seems everyone is scrambling to get 2012 material out for candidates. I am thankful BT has 2011 and past years information available, otherwise I'm not sure what I'd do! The GARP handbooks are very techinical and don't help much with studying for a test - I elected not to buy them for lev2.
    • Like Like x 2
  9. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Hi Chad,

    Sure thing. Yes, the timing by GARP is typical, and so there is always some stress and scramble early in the year due to compression ahead of the May exam, I mean since they switched to two levels in 2008. Before then, we all had almost a year for the one FRM. I don't think GARP consulted with providers on this dynamic (I am confident that none of the provider appreciate the Jan- May cycle! ... it's a little asymmetric, if you think about it, providers have more work to do). However, despite reading changes, the year over year continuity is quite high. The FRM changes, to be sure, but it's easier to see the change (eg) over three years.

    Like this year's 2012 Part 1 is very much the same as last year's Part 1: it is so similar that I could record almost the same videos (but we are instead seeking to improve them with a concepts focus + sample questions). So, really, regardless of which materials a candidate used, there is nothing precluding immediate preparation; e.g., the quantitative concepts are currently very constant, which i sort of like b/c i can focus on better questions and simplifying previous material. thanks! David
  10. DallasFRM

    DallasFRM New Member

    David - any updates re: formula sheet? Thanks.
  11. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Nope, I prioritized the mock exams. I think i will refresh new formula sheets along the lines of Alek's suggestion here @
    but that will be looking ahead to the November exam. I'm not going to go crazy in the last week, support is enough, then will will start the proactive plan for November.
    so no need to status check, it doesn't do anything for me
    • Like Like x 1
  12. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Actually, for what it's worth, our second semester plan (i.e., to support for November) will include a focus on:
    1. Revising, updating all the learning spreadsheets
    2. Brief case-study videos by topic (which i think will be much more effective than tedious AIM by AIM). For example: volatility, here it is, here is how it's defined, let's do 2 or 3 PQs/applications of volatility. Duration. Etc.
    3. The structured email program to help with disciplined study plan
    4. The annotated formula sheets (per Alek's suggestion)
    • Like Like x 1
  13. DallasFRM

    DallasFRM New Member

    That will be awesome - hopefully it will be for Level 2 for me:)
    • Like Like x 2
  14. trabala38

    trabala38 Active Member

    Hi David,

    I did postpone the May P2 exam to November due to tight work schedule and thus I will take P2 in November. I haven't been following BT for a while and I got 2 questions:

    1) Did you publish any Structured Email (I haven't received one in my mailbox) for P2?
    2) Do you plan to publish a new "calendar/plan" for the 4 points you mentioned in the post above?

    For me the second question is relevant, because I'd like to study and progress in a organized way for November P2 (P1 was a bit messy because I was discovering the program/content: readings, notes, videos, PQs, etc...) and would like to integrate your case-study videos and maybe follow your structured email program for my own study plan. I know you have been quite reluctant when it comes to provide an exact publishing calendar (and I do understand that given the massive amount of content you publish), but having a approximate schedule would certainly helps. Also, one of my priorities for this November P2 is to start my study program earlier, in order to have more buffer for setbacks and last but not least, to reduce the stress level when approaching the exam date!


  15. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Hi Trabala38,

    Good to hear from you, good luck with the revised plan for November.

    1) No. It's coming in the second semester. Basically Jan-May is a crunch to produce the source AIM-by-AIM material, something i've come to view as "defensive" given the overlong, disorganized outline of the AIMs. (I think a structured focus on core topics, a less granular approach, would be much more effective.) Then June to November: we get to be proactive with above initiatives (e.g., structured e-mail).

    2) I deleted my previous long-winded essay (yikes I am exhausted from support). The answer here is: I will think about publishing the plan for this. But I am really skeptical that pre-publishing such a plan will make any actual difference. My experience is that while, lots of people like to talk about utilizing such a plan in a coordinated fashion, very very few follow up on it, in synchronized fashion. In short, it's a buying criteria but not so much a thing people use. So i don't want to get seduced into something that only adds support burden for us ("where is the item you promised here today?" ... even though they aren't needing it today!. Actually, FWIW the most relevant issue is: to pre-publish it is to invite dialog and input. It is very difficult to parse useful input from merely loud input on this topic. As the most diligent students tend to "just get started," and self-start with the considerable existing resources, the signal-to-noise here is pretty low; e.g., every single study plan I have written for corporate clients, that was so necessary at the onset, has never been fully utilized. Every single one.). I think it's much more effective to put it out and let people arrive to it, on a lagging basis, when they are ready, at their convenience.

    In regard to an early start, I think that is always the best plan.

    • Like Like x 1
  16. trabala38

    trabala38 Active Member

    Hi David,

    Thank you for your answer. As you can see, I am not yet very active on the forum... I am currently busy printing all the study notes, PQs and slides, because I like the "desk, paper and pencil" approach when it comes to studying.

    As for your former question on point 2: I think having an overview of all the materials is important when making a study plans. You are right, many people will just wait for collecting the online content, but some, like me, like to assess the volume, the depth of all the material in order to make a realistic study plan. It is mostly applicable to "case-study videos" because if some are published early, it will allow me to make "some room" in my study plan for the subsequent videos... As for the learning spreadsheets, being an additional support, I agree with you, having a publishing calendar for them does not make too much sense. Same applies for the "Formula Sheets", as long as we get them a few weeks before the exam, it is totally fine. For the "Structured Email", I just wanted to compare your suggested approach with mine... So that, I can modify/amend my study plans if I find some positive points in your email...

    Thank you!

    • Like Like x 2
  17. Mahesh Deep

    Mahesh Deep New Member

    Hi David,

    I've a quick qs.. is this formula sheet valid for 2012 l1 as well?

  18. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test) Staff Member

    Hi Mahesh,

    Yes the formula sheet is somewhat valid, HOWEVER we will be updated formula sheets for both P1 & P2 this semester (i.e., ahead of Nov exam). I am working on calendar now, I think we will publish by EOD. Thanks!
    • Like Like x 2
  19. MikeCass

    MikeCass New Member

    I wanted to ask about calculators and which one you emphasize. I am a HP-12C person. Do you show tutorials more for TAs or HPs?
    Thank you,
  20. Aleksander Hansen

    Aleksander Hansen Well-Known Member

    David can answer this better than me, but he seems to be fond of the TI and the videos out there are all TI if I'm not mistaken. You can google for similar videos for HP though.

    I prefer HP over TI because it has so many more functions (TI has really been asleep at the wheel on the financial calculator side). HOWEVER, I would throw the 12C out the window.
    Consider making the switch to the superior HP 10bII+ or HP 20b.

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